Impact on a Global Contracting Economy on Business - Research Paper Example

Impact on a Global Contracting Economy on Business The global economy is such that it is on the move. The global economy is contracting by the day and there are many reasons to believe such a premise. This is so said because the business domains have started to feel the pinch, and there is immense competition within the relevant angles. The global contracting economy has meant that the businesses have suffered on a number of counts, and more specifically within the profit-making entities that have come about with the passage of time.

There is a requirement to get completely hands-on with the understanding that the global contracting economy has been the basis of deteriorating business standards and practices which are taking place all over the world (Sikorski, 2011). The unfortunate aspect that has come about basically outlines the need to comprehend that the economy must be bolstered so that success could be achieved within the related ranks, and for this to happen, there has to be a concerted effort paid by the top management realms.

The economic indicators can only be upped when there are all-out efforts and endeavors to get the act straight and to bring in measures which shall be the cornerstone of boosting the business’ realms because these are direly required. What this sheds light is on the fact that the stakeholders within the relevant business circles have to realize how important their role is and what they need to do in order to move ahead further with the passage of time. They have to tell the organizations the exact ways and means through which the economy could be fixed and the problems be resolved in the shortest possible time frame.

There is the ever-consistent talk of doing things the right way as far as the organizational undertakings are concerned, and the credit for the same goes on to the shoulders of the top management people who run the businesses in essence (Hanlon, 2008). They have to decide the exact ways and means through which the global contracting economy provides problems for the smooth running operations of the business. Now what needs to be done is to find out the exact ways and means through which these issues could be analyzed, understood and later on fixed so that sanity could prevail within the realms of the business, under a global contracting economy which has come about.

The global contracting economy has arisen because there have been many problems in the economic domains of late, and now is the time to get the act straight so that businesses could heave a sigh of relief in this day and age. Also the fact that the global contracting economy produces more problems for the business than finding out any positives, the organizations must get their respective houses in order (Johnson, 2011). This will mean that the economic repercussions are tantamount to business success or the complete lack thereof.

The global contracting economy is therefore at the mercy of the people who run the economic show in entirety and it is up to them to settle the score once and for all. The business realms therefore must realize that their role is pertinent within such scenarios because it is for them that the economy exists in the first place. If the business falls flat in a global contracting economy, then this would mean that there are no backup measures for the sake of the business and that it has to set itself right so that sanity could come about within its own ranks (Graham, 1999).

The global contracting economy is due to the result of many economic indicators and the related undertakings, and it would only be realistic to think of such aspects in the same light of economic upheaval in developing and developed markets, all over the world. The economy is dependent on the people who bring about positive changes and thus look forward to resolving the ambiguities that mar the relevant system realms. It is a fact that the business domains of present times are doing their utmost to understand the nuances related with the global contracting measures taking place within an economic setting.

The need is to remain one step ahead of the competition within the business realms and thus boost the economy in the long run. This is the order of the day as it shall deliver solid results and indeed value for the businesses which have been developed over a period of time (Walters, 2004). All said and done, the role of the global contracting economy within the aegis of a business is quintessential and the business managers must understand this dictum before delving deep into the areas of business growth, expansion and development.

Works Cited Graham, Peter. Small business participation in the global economy. European Journal of Marketing, 33(1/2), 1999 Hanlon, Susannah. New Business Models for the Knowledge Economy. Records Management Journal, 18(1), 2008 Johnson, Marianne. After the Crash: Designing a Depression – Free Economy. International Journal of Social Economics, 38(5), 2011 Sikorski, Douglas. The Global Financial Crisis. Contemporary Studies in Economic and Financial Analysis, 93, 2011 Walters, David. A business model for the new economy.

International Journal of Physical Distribution & Logistics Management, 34(3/4), 2004